The company cited help from favorable business conditions, with global vehicle production increasing 3% in Q2 from a year ago. Most notably, China's production was up 12%. Historically, business in China has accounted for about 11% of Lear's revenue.

"Our record performance in the quarter reflects the investments that we have made in improving our cost structure and expanding our component capabilities globally," said Matt Simoncini, president and CEO, in a statement.

For the full year, Lear sees net income at $610 million-$645 million, up from a prior view of $580 million-$615 million, with the new midpoint just above the consensus estimate of $625 million.

With the energy boom making energy costs cheaper, it's no surprise 5 trains, planes and automobile stocks are on IBD's Accelerating Mutual Fund Ownership list. Today's Screen Of The Day looks at companies with accelerating fund ownership over the past three quarters and then sorts by other factors ...

07/25/2014 08:02 AM ET

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